BUSINESS LIVE: Last warning for early rate hike; Liberty Steel provides £ 50 million cash injection; Heathrow in decarbonisation operation
Households should be prepared for interest rates to rise sooner than expected if the Bank of England tries to keep a lid on inflation, a major policy maker has warned.
Michael Saunders, who sits on the bank’s monetary policy interest rate setting committee, even indicated that rates could be raised as early as this year.
Sanjeev Gupta’s Liberty Steel has secured a £ 50 million cash injection, and has protected 1,000 jobs at its factories in Rotherham and Stocksbridge.
The deal is part of a broader restructuring of GFG Alliance, the owner of Liberty, which was forced to seek funding when its major lender, Greensill Capital, collapsed.
Heathrow Airport has urged the government to lift policies to ensure the development of sustainable aviation fuels, following the International Air Transport Association’s commitment to net zero aviation by 2050.
The number of passengers at the airport remained just below 40 per cent in pre-pandemic levels in September, while cargo was down close to 8 per cent in volume in 2019, ‘reflecting the way travel restrictions have hurt UK exports and supply chains’ .
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Works reopened by Liberty Steel Group at Dalzell Steel Factory in Motherwell